Critical "battle" for the acquisition of Kotsovolos retailer
Critical "battle" for the acquisition of Kotsovolos retailer

Critical "battle" for the acquisition of Kotsovolos retailer

Selling process of the chain from its parent company Currys is being deployed.
RE+D magazine

The next few days are important for the future of the Kotsovolos chain since the competition "run" by the parent group Currys is in its final stretch.

Interested parties submit their final bids.

According to available information among the "bidders" is the PPC group which has submitted a file for the submission of an offer, since it believes that the acquisition of Kotsovolos will bring the Company closer to its goals thanks to the extensive and well-placed network it has throughout the Greece, but also the Quest group, with the latter confirming its interest in a relevant announcement to the Capital Market Commission.

According to the company, responding to relevant publications of the electronic press, "it refers to its announcements from 4-8-2023 and 7-8-2023 in response to relevant publications and repeats - as it had stated in its above responses/announcements - that it participates in Kotsovolos procedure, according to which the submission of final offers is foreseen in the current phase.

The Company in this context filed a final offer, however, given that the process is ongoing, it is not certain that this process will lead to a final agreement with the Company. The Company will make, in accordance with the law, without delay, the required announcements to inform the investing public, if and as long as any agreement is concluded".

The price

The price for the "precious" domestic electrical goods retail trade is kept unknown, however, market analysts believe that the agreement may range between 400 million and 450 million, while it is not excluded that it may reach even more depending on the moods of the prospective suitors. It is recalled that Citi has undertaken on behalf of the parent company to "run" the tender without restrictive rules.